2024 Q4 Form 10-K Financial Statement

#000083164124000063 Filed on November 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2024 Q2
Revenue $1.144B $1.344B
YoY Change -5.33% 16.07%
Cost Of Revenue $899.2M $886.4M
YoY Change 12.58% 10.98%
Gross Profit $245.3M $223.2M
YoY Change 29.88% 30.63%
Gross Profit Margin 21.43% 16.6%
Selling, General & Admin $92.73M $94.04M
YoY Change 4.12% 14.2%
% of Gross Profit 37.81% 42.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.96M $5.700M
YoY Change 202.84% 18.75%
% of Gross Profit 6.91% 2.55%
Operating Expenses $94.80M $94.54M
YoY Change 6.43% 5.17%
Operating Profit $150.5M $128.6M
YoY Change 54.06% 110.83%
Interest Expense -$7.897M -$9.912M
YoY Change -46.89% -25.6%
% of Operating Profit -5.25% -7.71%
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income $135.4M $118.7M
YoY Change 63.57% 71.82%
Income Tax $39.27M $32.89M
% Of Pretax Income 28.99% 27.71%
Net Earnings $96.15M $85.82M
YoY Change 59.62% 100.33%
Net Earnings / Revenue 8.4% 6.38%
Basic Earnings Per Share $0.36 $1.60
Diluted Earnings Per Share $0.35 $1.59
COMMON SHARES
Basic Shares Outstanding 267.7M shares 53.53M shares 53.50M shares
Diluted Shares Outstanding 271.7M shares 54.05M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $232.7M $212.3M
YoY Change 32.17% -8.24%
Cash & Equivalents $232.7M $212.3M
Short-Term Investments
Other Short-Term Assets $91.59M $121.8M
YoY Change -19.97% -3.53%
Inventory
Prepaid Expenses
Receivables $1.181B $1.054B
Other Receivables $21.97M $0.00
Total Short-Term Assets $1.527B $1.506B
YoY Change 7.72% 2.57%
LONG-TERM ASSETS
Property, Plant & Equipment $251.0M $70.69M
YoY Change 208.67% -7.69%
Goodwill $2.047B $1.992B
YoY Change 8.46% 7.31%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $207.1M $94.33M
YoY Change 181.89% 26.58%
Total Long-Term Assets $2.665B $2.578B
YoY Change 4.29% 2.47%
TOTAL ASSETS
Total Short-Term Assets $1.527B $1.506B
Total Long-Term Assets $2.665B $2.578B
Total Assets $4.193B $4.085B
YoY Change 5.51% 2.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $197.4M $198.3M
YoY Change 4.57% -15.83%
Accrued Expenses $395.5M $383.4M
YoY Change 16.51% 32.72%
Deferred Revenue $351.7M $372.3M
YoY Change 0.2% 15.79%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.220B $1.246B
YoY Change 0.61% 6.25%
LONG-TERM LIABILITIES
Long-Term Debt $812.6M $861.8M
YoY Change -10.39% -19.08%
Other Long-Term Liabilities $299.9M $141.6M
YoY Change 138.59% 12.57%
Total Long-Term Liabilities $1.113B $1.003B
YoY Change 7.75% -15.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.220B $1.246B
Total Long-Term Liabilities $1.113B $1.003B
Total Liabilities $2.362B $2.250B
YoY Change 5.24% -4.83%
SHAREHOLDERS EQUITY
Retained Earnings $1.871B $1.792B
YoY Change 18.98% 17.45%
Common Stock $38.58M $28.71M
YoY Change 109.23% 156.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.830B $1.666B
YoY Change
Total Liabilities & Shareholders Equity $4.193B $4.085B
YoY Change 5.51% 2.51%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $96.15M $85.82M
YoY Change 59.62% 100.33%
Depreciation, Depletion And Amortization $16.96M $5.700M
YoY Change 202.84% 18.75%
Cash From Operating Activities $105.6M $140.9M
YoY Change -20.56% 60.27%
INVESTING ACTIVITIES
Capital Expenditures $6.811M $3.861M
YoY Change -3.09% -27.12%
Acquisitions
YoY Change
Other Investing Activities $76.00K -$21.29M
YoY Change -78.35% -97.14%
Cash From Investing Activities -$6.735M -$25.15M
YoY Change 0.87% -96.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -83.92M -113.1M
YoY Change -54.9% -115.65%
NET CHANGE
Cash From Operating Activities 105.6M 140.9M
Cash From Investing Activities -6.735M -25.15M
Cash From Financing Activities -83.92M -113.1M
Net Change In Cash 14.94M 2.691M
YoY Change -124.97% -95.55%
FREE CASH FLOW
Cash From Operating Activities $105.6M $140.9M
Capital Expenditures $6.811M $3.861M
Free Cash Flow $98.79M $137.1M
YoY Change -21.54% 65.87%

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Description of Business <div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are a leading global provider of high-end consulting and engineering services that focuses on water, environment and sustainable infrastructure. We are a global company that is </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leading with Science® </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to provide innovative solutions for our public and private clients. We typically begin at the earliest stage of a project by identifying technical solutions and developing execution plans tailored to our clients’ needs and resources. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our solutions may span the entire life cycle of high-end consulting and engineering projects and include applied science, data analysis, research, engineering, design, project management and operations and maintenance.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We manage our business under two reportable segments. Our Government Services Group (“GSG”) reportable segment primarily includes activities with U.S. government clients (federal, state and local) and all activities with development agencies worldwide. Our Commercial/International Services Group (“CIG”) reportable segment primarily includes activities with U.S. commercial clients and international clients other than development agencies.</span></div>
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CY2024 ttek Effective Income Tax Rate Reconciliation Nondeductible Expense Employee Compensation Percent
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CY2023 ttek Effective Income Tax Rate Reconciliation Nondeductible Expense Employee Compensation Percent
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CY2022 ttek Effective Income Tax Rate Reconciliation Nondeductible Expense Employee Compensation Percent
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CY2024 ttek Effective Income Tax Rate Reconciliation Unremitted Foreign Earnings Percent
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CY2023 ttek Effective Income Tax Rate Reconciliation Unremitted Foreign Earnings Percent
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CY2024 ttek Effective Income Tax Reconciliation Hedging Gain Loss
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CY2023 ttek Effective Income Tax Reconciliation Hedging Gain Loss
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CY2022 ttek Effective Income Tax Reconciliation Hedging Gain Loss
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CY2024 ttek Effective Income Tax Rate Reconciliation Other Non Recurring Adjustments To Deferred Taxes Percent
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CY2023 ttek Income Tax Expense Benefit Nonoperating
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CY2023 ttek Effective Income Tax Rate Reconciliation Excluding Valuation Allowance Release Non Deductible Goodwill Impairment Transaction Costs And Excess Tax Benefits On Share Based Payments Percent
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0.278
CY2022 ttek Effective Income Tax Rate Reconciliation Excluding Valuation Allowance Release Non Deductible Goodwill Impairment Transaction Costs And Excess Tax Benefits On Share Based Payments Percent
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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CY2024Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2023Q4 ttek Deferred Tax Assets Unbilled Revenue
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CY2024Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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37417000 usd
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CY2024Q3 us-gaap Deferred Income Tax Liabilities
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2024 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2024 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2024Q3 us-gaap Unrecognized Tax Benefits
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CY2024 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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CY2023 us-gaap Tax Adjustments Settlements And Unusual Provisions
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CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2023Q4 us-gaap Long Term Debt
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CY2023Q3 ttek Common Stock Reported Sales Price
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CY2024Q3 ttek Derivative Cap Price Per Share
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CY2024Q3 us-gaap Bank Overdrafts
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q3 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Government Assistance Liability Noncurrent
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CY2024 ttek Government Assistance Liability Decrease Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
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CY2024 us-gaap Government Assistance Liability Decrease
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CY2024Q3 us-gaap Government Assistance Liability Current
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CY2024Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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CY2024 us-gaap Allocated Share Based Compensation Expense
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2024 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2024 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2023 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2024 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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12598000 usd
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2024 us-gaap Defined Contribution Plan Cost Recognized
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CY2023 us-gaap Defined Contribution Plan Cost Recognized
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CY2022 us-gaap Defined Contribution Plan Cost Recognized
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CY2024Q3 us-gaap Deferred Compensation Plan Assets
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CY2023Q4 us-gaap Deferred Compensation Plan Assets
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